Insider Brief
- Rigetti Computing and Quanta Computer have entered a strategic collaboration to advance superconducting quantum computing, with each company committing over $100 million in investments over the next five years.
- As part of the agreement, Quanta will invest $35 million in Rigetti and purchase shares, pending regulatory approval.
- Superconducting quantum computing is expected to play a key role in the industry’s projected growth, with market estimates reaching $1-2 billion annually by 2030.
PRESS RELEASE — Rigetti Computing, Inc. (Nasdaq: RGTI) (“Rigetti” or the “Company”), a pioneer in full-stack quantum-classical computing, today announced that it has entered into a strategic collaboration agreement with Quanta Computer Inc., (“Quanta”, TWSE: 2382.TW) a Taiwan-based Global Fortune 500 company and the global leader of computer server manufacturing, to accelerate the development and commercialization of superconducting quantum computing.
The companies have committed to investing more than $100 million each over the next five years, with both sides focusing on their complementary strengths to develop superconducting quantum computing technologies. In addition, Quanta will invest $35 million and purchase shares of Rigetti, subject to regulatory clearance.
The quantum computing industry is poised to experience rapid growth in the next 5 years, with increasing commercial interest and the market expected to reach $1-2 billion/year by 2030. Of the quantum computing modalities, superconducting qubits are proven to have many advantages over ion trap and neutral atoms, including fast gate speeds and well-established manufacturing techniques from the semiconductor industry.
“Quanta’s investment in Rigetti will strengthen our leadership in this flourishing market. Our companies’ complementary strengths — Rigetti as a pioneer in superconducting quantum technology, with open, modular architecture enabling incorporation of innovative solutions across different parts of the stack easily, and Quanta as the world’s leading notebook/server manufacturer with $43 billion in annual sales — will help to put us at the forefront of the quantum computing industry,” says Dr. Subodh Kulkarni, Rigetti CEO.
